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The research behind this publication was to 'track the trends' with respect to revenues accruing to the national fiscus from diamond mining companies from 2010 to 2013.
The Zimbabwe diamond mining industry has attracted the attention of every Zimbabwean. The interest in the industry has also been global. This is, in no small part, a result of the fact that the Marange diamond fields represent a huge find in recent years. The fact that the Marange diamond find had significant deposits of alluvial diamonds only served to heighten public expectations for windfall revenues. It is now over five years since the start of official diamond mining in Marange. Far from being the answer to the country's economic woes, the Marange diamonds have failed to 'sparkle' for the benefit of the general populace. Despite providing some intermittent financial relief, the expectations of Government and the general public are far from being met.
“Tracking the Trends” looked at the total contributions made by diamond mining companies to national Treasury. The publication unpacks and analyses the Marange diamonds production and revenue data with a view to ascertaining what the contribution of the diamonds has been from 2009-2013.
The findings show that there is a clear mismatch between the expected or targeted revenue and that which is actually accruing to Treasury. The biggest mismatch or revenue shortfall was recorded in 2012. The Government had expected to rake in US$600 million from diamond mining dividends and royalties yet only US$45 million was realised.